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SilverSun Technologies, Inc. (NASDAQ: SSNT) generates a steady flow of news as a national provider of business application software, technology services and managed IT solutions. Company press releases highlight its role as a value-added reseller of ERP, WMS, CRM, BI and other business applications, as well as its consulting, programming, training and technical support services. SilverSun also reports on its dedicated network managed services practice, which provides cybersecurity, application hosting, disaster recovery, business continuity and cloud services.
News coverage for SSNT often focuses on financial and operating results. The company regularly announces quarterly and annual results, breaking out software sales and service and other revenues, and discussing trends across professional consulting, application hosting, infrastructure-as-a-service and development. These updates are typically accompanied by commentary from management on revenue growth, operating margins and the performance of its technology platform.
Another key theme in SilverSun’s news flow is corporate transactions and strategic activity. The company has reported on acquisitions, such as the purchase of substantially all business assets of JCS Computer Resource Corporation by its subsidiary SWK Technologies, adding hundreds of Sage 100 customers and expanding its Midwest presence. SilverSun has also issued multiple releases about its investment agreement with Jacobs Private Equity II, LLC and minority co-investors, under which they plan to invest $1 billion in cash into the company, as well as stockholder approvals and related conditions.
In addition, SilverSun-related news includes recognition and awards for its subsidiary SWK Technologies, such as being named to CRN’s MSP 500 list and receiving Acumatica Partner of the Year honors. These items underscore the company’s presence in managed services and cloud ERP ecosystems. Investors and observers who follow SSNT news can track earnings announcements, acquisition activity, equity investment developments, spin-off plans and industry recognition tied to SilverSun and its subsidiaries.
SilverSun Technologies (NASDAQ: SSNT) reported its Q1 2020 financial results with revenues of $10,079,524, up 8.3% year-over-year. Software sales rose 10.1% to $1,769,171. However, the company faced a net loss of $292,115, compared to a net income of $96,036 in Q1 2019, with a loss per share of $0.06. Gross profit increased by 2.4%, but gross margins decreased from 40.4% to 38.2%. CEO Mark Meller highlighted concerns about the economic impact of COVID-19 and rising operational expenses.